Asbury Automotive Reports Record Fourth Quarter

Feb. 8, 2017—Asbury Automotive Group Inc. reported a net income for the fourth quarter 2016 of $67.1 million, compared to $41.1 million in the prior year quarter.

Asbury, one of the largest automotive retail and service companies in the U.S., also reported adjusted income from continuing operations for the fourth quarter 2016 of $34.0 million, compared to $32.8 million in the prior year quarter—a 19 percent increase in adjusted earnings per share.

Total revenue for the fourth quarter was $1.7 billion, up 2 percent from the prior year period; total revenue on a same-store basis was up 5 percent from the prior year period.

For the full year 2016, the company reported net income of $167.2 million, compared to net income of $169.2 million in the prior year period. Adjusted income from continuing operations for 2016 was $137.3 million, compared to $147 million in the prior year—a 9 percent increase in adjusted earnings per share.